Korea Investment CORP cut its position in shares of CBRE Group, Inc. (NYSE:CBG) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 196,216 shares of the financial services provider’s stock after selling 2,642 shares during the period. Korea Investment CORP’s holdings in CBRE Group were worth $7,142,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CBG. BlackRock Inc. raised its position in CBRE Group by 3,425.0% in the first quarter. BlackRock Inc. now owns 19,371,641 shares of the financial services provider’s stock worth $673,940,000 after buying an additional 18,822,095 shares during the period. Morgan Stanley raised its position in CBRE Group by 181.3% in the first quarter. Morgan Stanley now owns 3,415,279 shares of the financial services provider’s stock worth $118,818,000 after buying an additional 2,201,273 shares during the period. Prudential Financial Inc. raised its position in CBRE Group by 264.7% in the first quarter. Prudential Financial Inc. now owns 1,624,719 shares of the financial services provider’s stock worth $56,523,000 after buying an additional 1,179,167 shares during the period. Vanguard Group Inc. raised its position in CBRE Group by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,822,201 shares of the financial services provider’s stock worth $967,934,000 after buying an additional 1,024,363 shares during the period. Finally, Russell Investments Group Ltd. raised its position in CBRE Group by 102.7% in the first quarter. Russell Investments Group Ltd. now owns 1,107,938 shares of the financial services provider’s stock worth $38,545,000 after buying an additional 561,401 shares during the period. 96.44% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group, Inc. (CBG) opened at 36.88 on Thursday. The company’s 50 day moving average is $37.06 and its 200-day moving average is $35.03. CBRE Group, Inc. has a 52-week low of $25.40 and a 52-week high of $38.99. The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of 18.00 and a beta of 1.83.

CBRE Group (NYSE:CBG) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.39 billion. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Equities analysts anticipate that CBRE Group, Inc. will post $2.57 EPS for the current fiscal year.

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A number of research analysts have weighed in on CBG shares. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of CBRE Group in a research note on Monday, April 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 price objective on shares of CBRE Group in a research note on Friday, July 21st. Barclays PLC raised their price objective on shares of CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Finally, UBS AG started coverage on shares of CBRE Group in a research note on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. CBRE Group presently has a consensus rating of “Buy” and a consensus target price of $39.40.

In other CBRE Group news, CEO William F. Concannon sold 20,000 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $38.09, for a total transaction of $761,800.00. Following the transaction, the chief executive officer now owns 233,896 shares in the company, valued at approximately $8,909,098.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Lafitte sold 15,000 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $37.02, for a total transaction of $555,300.00. Following the transaction, the insider now owns 369,774 shares in the company, valued at approximately $13,689,033.48. The disclosure for this sale can be found here. Insiders have sold a total of 75,627 shares of company stock worth $2,822,306 in the last 90 days. Company insiders own 1.00% of the company’s stock.

About CBRE Group

CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.

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Institutional Ownership by Quarter for CBRE Group (NYSE:CBG)

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